EMC reports operating loss
EMC Insurance Group Inc. had a net income of $5.2 million for the first quarter, compared with $9.9 million for the first quarter of 2010.
The company reported a operating income loss of $146,477, compared with operating income of $9.5 million a year ago. Bruce Kelley, EMC president and CEO, said in a press release that the loss stemmed from national and worldwide catastrophic events during the quarter.
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